$BTC Bitcoin price today: Bitcoin is currently around 107,356.62 USD. The medium to long term market structure remains unchanged, with the target still at the 70,000 range, and the medium term target around 98. A few days ago, we already reminded that the short order in the upper medium to long term was fully taken profit at this position, because we need to wait for a pullback before reopening.

The short-term structure has seen some changes in the past few days. Bitcoin has dropped from 124,545 to now, and if it does not break below 107,000, the W wave has ended, which means its rebound height could be relatively high, with a chance to reach the range of 116,000-117,000. That would also be a good opportunity for us to re-establish medium to long term short orders. The other scenario is that if it breaks below 107,000 today, its rebound height will be limited, possibly only reaching around 113,000. This rebound will definitely happen, just with different heights.
In summary, we still maintain the previous medium to long term view, and the short-term perspective remains unchanged from August 30. If Bitcoin breaks below 107,356.62 USD, the rebound height will need to decrease. As long as it hasn't broken, it remains unchanged. Therefore, in the next few days, we will still focus on short-term long orders. Today, there are two opening strategies for short-term long orders: one is to go long if it breaks below 107,000, and the other is to go long if it breaks above 109,000. Ethereum can follow Bitcoin and open in sync.bit#BTC ETFs Top $153 B in Holdings